The allowance for all departments, including the Ministry of Defence, will rise in line with the 2021 spending review, according to reports.
Sunak departs 10 Downing Street on Wednesday to attend Prime Minister's Questions. Image: PA BRITISH PRIME MINISTER Rishi Sunak is said to be preparing to cut defence spending in real terms as planned budget hikes are dwarfed by soaring inflation.
Sticking with the 2021 spending review would see the MoD budget increase in cash terms from £47.9 billion this year to £48 billion in 2023 and then £48.6 billion in 2024. But the Telegraph reported ministers will argue the promise can be met by taking the average annual increase across the five-year period as a whole.General Richard Dannatt, the former head of the army, told the newspaper a real terms cut would seem “incredible” given the situation in Ukraine.
Hunt has suggested next week’s autumn statement will show the UK can “pay our way” as the country learns the lesson of the disastrous mini-budget. “The only thing that they could possibly blame us for is the interest rates and interest rates have come down and the gilt rates have come down,” he said.On 23 September, Kwarteng announced the biggest raft of tax cuts for half a century.
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